TURKEY CONTINUES TO OFFER GREAT OPPORTUNITIES FOR INVESTORS...
Since the beginning of 2002, an organized international property market has started to develop in Istanbul with local and foreign investors' interest in it progressively increased each year.
Favorable geographical position, population growth and demographic advantage, increase in per capita income, urban renewal and development adequacy, mass capacaity and power in construction sector and easiness of doing business are all demand drivers of the real estate sectors in Turkey.
According to PWC and ULI Real Estate Report, Istanbul is ranked as the first most attractive investment market in Europe. The report indicates that Istanbul is still one of the most popular markets for investment.
Returns on real estate investment in Istanbul reached a peak between in October 2012 and October 2013 with an average annual return of 16,44% in real terms for residential property investments.
In accordance with Turkey's ambitious 2023 targets, two new city zones are planned to be built in Istanbul. One of them is planned to be built in Kemerburgaz, on the Europen side of Istanbul, and the other will be in Tuzla, on the Asian side.
The country is a major energy corridor and serves as a terminal connecting demand and supply rich regions. With its existing potential, mega projects and ambitious targets set for 2023, Turkey offers great opportunities for investors in the real estate sector.
Source: www.gyoder.org.tr